CRNC news
300 <CRNC.OB>
Chronicle Communications, Inc.
Announces Arrival of Its New FAST-300
TAMPA, Fla.--(BUSINESS WIRE)--Feb. 4, 2000--Chronicle
Communications, Inc., (OTCBB:CRNC), (http://www.chronicleinc.com)
announced Friday that its new FAST-300 web offset printing press has
been shipped and is expected to arrive in Tampa on Saturday,
February 5, 2000. Chronicle will begin installation of the press
immediately upon receipt and expect it to be fully operational by
February 22, 2000.
Chronicle will operate the FAST-300 in its new facility located
in the prestigious Sable Industrial Park in Tampa. Chronicle will
operate its commercial printing division under a new, wholly owned
subsidiary named Chronicle Commercial Printing, Inc. Chronicle's
wholly owned subsidiary Bright Now, Inc., dba United Printing and
Publishing, is expected to close its doors on Monday, February 7,
2000. United is currently operating under Chapter 11 Bankruptcy and is
expected to be converted to Chapter 7 Liquidation on Monday,
February 7, 2000. The expected liquidation of United in Chapter 7 will
eliminate $1,631,341 of debt from Chronicle's consolidated balance
sheet.
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